U.S GDP Estimate Unchanged at 6.4% in the First Quarter
U.S real GDP rose at a 6.4% annual rate in the first quarter of 2021, according to the Bureau of Economic Analysis press release. The GDP reflects last month’s advance…
Jobless Claims Fall Further by 38,000 to Remain Below Estimates
U.S jobless claims plunged by 38,000 for the week that ended May 22 to 406,000, according to the Department of Labor press release. The claims were below the expected 425,000…
Norwegian Air Emerges from Ruins. Positions as Regional Carrier in $721M Funding
Norwegian Air is positioning itself as a regional carrier after emerging from a bankruptcy protection of about six months, according to Market Screener. The carrier now boasts of 51 aircraft,…
Activist Investor Icahn Can Dive Billion-Deep in Crypto
Carl Icahn may invest more than $1 billion in cryptocurrencies, investor said in interview to Bloomberg. Icahn hinted at going a “big way” in crypto investments and has been researching…
GlobalFoundries Chipmaker Goes for Morgan Stanley for Possible IPO
GlobalFoundries is working with Morgan Stanley as it launches its first U.S initial public offering, according to Bloomberg. The chipmaker company could be valued at $30 billion should the deal…
Nvidia Projects a Strong Demand for Chips in Second Quarter Amid Shortages
Nvidia Corporation projects a strong demand for chips used in gaming PCs, crypto mining, and data centers, according to Bloomberg. The company, largest chipmaker in the U.S, expects current quarter…
China’s 57% Industrial Profit Jump Supports Benchmark Index as Asia-Pacific Mixed
CSI 300 Index gained as much as 0.18% on Thursday after China reported that its April’s industrial profits jumped 57.0% year over year. China’s industrial profits hit 768.63 billion Yuan…
HSBC to Cut its U.S Branches by More than Half as it Eyes Wealthy Clients
HSBC Holdings Plc seeks to cut its retail footprint in the U.S by selling 90 of its 148 branches, according to Wall Street Journal. The bank also seeks to exit…
Apple Seeks to Hire a Crypto-Experienced Manager in “Alternative Payments” Space
Apple seeks to bring on board a business development executive experienced in digital assets, according to Coindesk. The executive will be in charge of “partnership payments” and will lead Apple’s…
Nordstrom Shares Plunge 7% on Worse-than-Expected Loss Amid Revenue Jump
Nordstrom shares fell 7% on Tuesday after its Q1 2021 loss per share of $1.05 disappointed investors’ bet of $0.57 per share loss. First quarter revenue was $3.01 billion, beating…
Mondelez to Get a Bigger Bite in Europe With $2B Chipita Deal
Oreo maker Mondelez International Inc. is expanding its brand portfolio through a $2-billion deal with Chipita SA, Bloomberg reported. The transaction is expected to contribute to profits immediately. It will…
Amazon to Acquire MGM for $8.45 Billion
Amazon has agreed to buy MGM for $8.45 billion, according to press release. The e-commerce giant will capitalize on MGM’s IP collections in film to exploit new opportunities in quality…
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